Friday, August 31, 2012

Portfolio Relevance
By MarketWatch
Splunk jumps as sales surge, beating Street
(4:20 PM ET) SAN FRANCISCO (MarketWatch) - Shares of Splunk Inc. SPLK -1.10%jumped 12% in after-hours trading on Thursday after the data-analytics company reported a surge in sales that beat Wall Street's expectations. Splunk reported a fiscal second-quarter loss of $4.6 million, or 5 cents a share, compared with a loss of $3.9 million, or 20 cents a share. Revenue was $44.5 million, up from $25.9 million. On an adjusted basis, the company posted a loss of a penny a share. Analysts were expecting a loss of 4 cents a share, on revenue of $39.8 million. For the current quarter, the company said it expects revenue of between $45 million and $47 million. Analysts were expecting $44.6 million, according to data from FactSet.
SAIC to split into two separate companies
(4:16 PM ET) SAN FRANCISCO (MarketWatch) -- Science Applications International Corp.late Thursday said its board approved splitting the company into two publicly traded companies. "The proposed separation is intended to take the form of a tax-free spin-off to SAIC stockholders of 100% of the shares of a newly formed company focused on government technical services and enterprise information technology," said SAIC in a statement. The company also reported its second-quarter earnings fell to $110 million, or 32 cents a share, from $178 million, or 50 cents a share, a year earlier. Revenue rose to $2.85 billion from $2.6 billion. Shares of the company rose 8% to $12.75 in after hours.
Pandora shares climb 21% in wake of results
(9:48 AM ET) SAN FRANCISCO (MarketWatch) -- Pandora Media Inc. P +14.29% shares climbed more than 21%, to $11.89 Thursday, on positive reaction to the Internet radio company's upbeat quarterly report and forecast. Late Wednesday, Pandora said that for its fiscal third quarter, it expects to breakeven or earn a pennny a share, on revenue of $115 million to $118 million. Analyst Michael Graham, of Canaccord Genuity, raised his rating on Pandora to buy from hold, saying that more gains from mobile advertising and subscription growth should help Pandora's sustain its result for the foreseeable future.
Pier 1 estimates 2nd-quarter net above consensus
(6:51 AM ET) TEL AVIV (MarketWatch) -- Pier 1 Imports Inc., PIR +0.66% the Fort Worth, Texas, home-furnishings retailer, estimated fiscal-second-quarter earnings at 24 cents a share against 14 cents in the year-earlier quarter. For the quarter ended Aug. 25, Pier 1 estimated adjusted earnings at 19 cents a share. A survey of analysts by FactSet Research produced a consensus estimate of profit of 17 cents a share for the quarter. In a Thursday statement, Pier 1 said that comparable-store sales for the quarter rose 6.7%. Total sales for the quarter rose 8.3% to $368 million from $340 million a year earlier. Customers "have responded favorably to our new assortments" for the fall season, President and Chief Executive Alex Smith said in the statement.
Costco August same-store sales up 6%
(3:41 AM ET) TEL AVIV (MarketWatch) -- Costco Wholesale Corp., COST +1.52% the Issaquah, Wash., warehouse retailer, reported that for August, comparable-store sales rose 6% as total sales advanced 8% to $7.4 billion from $6.85 billion in the year-earlier month. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 4.5% for the month. The comparable-store sales reflect increases of 7% in the US and 4% internationally, Costco said in a Thursday statement. Excluding higher gasoline prices and the negative effects of foreign-currency translations, August same-store sales rose 6%. 

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